First Tellurium Announces Increase in Private Placement Financing and 1st Tranche Closing

(TheNewswire)

Vancouver, BC, Canada, March 17, 2026 TheNewswire First Tellurium Corp. (CSE: FTEL, OTC: FSTTF) (the "Company") announces that it has now completed a first tranche (the "First Tranche") closing of its non-brokered private placement previously announced on February 23, 2026.  Under the First Tranche, the Company has issued 4,992,545 Units for gross proceeds of $848,732.65.  The Company paid finder's fees of $1,700 in connection with the First Tranche.  All securities issued under the First Tranche are subject to a hold period expiring July 18, 2026, in accordance with applicable securities laws and the policies of the Canadian Securities Exchange (the "CSE").

As the Company has received interest above the previously announced $1,700,000 maximum, the Company is increasing the Offering such that it now proposes to sell up to 14,000,000 Units (including the Units issued in the First Tranche) at a price of $0.17 per Unit to raise gross proceeds of up to $2,380,000 (the "Offering").  Each Unit consists of one common share and one-half of one common share purchase warrant.  Each whole warrant will entitle the holder to purchase one common share at a price of $0.24 for a period of two years from its date of issue.  

The Units are being offered to qualified purchasers in reliance upon exemptions from prospectus and registration requirements of applicable securities legislation.  The proceeds received from the sale of the Units will be used for general working capital.  The Company may pay a finder's fee consisting of cash, shares and/or warrants to eligible finders as permitted under applicable securities laws and CSE policies.  All securities issued and sold under the Offering will be subject to a hold period expiring four months and one day from their date of issuance in accordance with the policies of the CSE and applicable securities laws.  

It is anticipated that some insiders of the Company will participate in the Offering.  The participation of any insiders may be considered a related party transaction within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101").  Such insider participation is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the Company is not listed on any of the exchanges or markets outlined in subsection 5.5(b) of MI 61-101, and the fair market value of the securities to be distributed to the insiders is not expected to exceed 25% of the Company's market capitalization.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.

About First Tellurium Corp.

First Tellurium's unique business model is to generate revenue and value through mineral discovery, project development, project generation and development of tellurium-based technologies.

First Tellurium is listed on the Canadian Securities Exchange under the symbol "FTEL" and on the OTC under the symbol "FSTTF". Further information about FTEL and its projects can be found at www.firsttellurium.com.

Neither the Canadian Securities Exchange nor its regulations services accept responsibility for the adequacy or accuracy of this release.

Forward-looking information

All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements.  These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control.  Readers should not place undue reliance on forward-looking statements.  Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated event.

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